October 13, 2021
Last chance to subscribe for AS DelfinGroup IPO shares
Thursday, the 14th of October, is the last day of subscription for AS DelfinGroup IPO shares on Nasdaq Riga. The offer price is EUR 1,52 per share and all proceeds of the IPO will be invested in the further growth of the company and to reduce the cost of funds for the company. The minimum subscription amount is 1 share, the maximum amount of shares per investor is not limited.
AS DelfinGroup Chairman of the Board Didzis Ādmīdiņš: “AS DelfinGroup is the first company in four years to go public in Latvia, and we hope our success will motivate other local companies to follow, thus developing and activating the local capital market, and contributing to the national economy in general. So far during the IPO we have observed high interest from retail investors to participate in the IPO. Considering our focus to engage retail investors, we will be pleased to welcome a significant number of retail investors from across Baltics as our shareholders. The Company will put a lot of focus after the IPO to justify the expectations of the new shareholders and to deliver the long-term financial goals we’ve undertaken, and, in addition, we plan to ensure regular quarterly and annual dividends to all shareholders.
It’s worth mentioning that in Q3 this year AS DelfinGroup reached its all-time best result so far in terms of issued loans to customers. According to selected operational data, the net loan portfolio (consumer and pawn shop loans) by the end of Q3 2021 reached EUR 35,8 million, which is an increase of 32% compared to same quarter in 2020. The current pace of development is sufficient to reach the company’s growth and financial targets going forward. By the end of 2024 we plan to exceed loan portfolio level of 70 million euros.”
To subscribe for shares investors must submit a subscription undertaking to their bank. The share subscription period of the IPO will close on 14 October. Investors are advised to confirm the exact deadline for submitting the subscription undertakings with their respective banks as the cut off time may vary from bank to bank, i.e., for Swedbank the deadline is 13:00, for LHV bank – 14:30, for Luminor – 12:00, Citadele – 15:00 and SEB bank in Latvia – 15:15, for SEB bank and Siauliu Bankas in Lithuania - 15:00. Subscription is facilitated by the members of Nasdaq Riga: LHV Bank, Swedbank, SEB, Luminor Bank, Citadele, Rietumu Banka, BlueOrange, Signet Bank, Siauliu Bankas, Skandinaviska Enskilda Banken, Nordea Bank and others. Full list of Nasdaq Riga members is available on: https://nasdaqbaltic.com/statistics/en/members
Number of new shares to be issued during the IPO is up to 8,395,000. LHV Bank and the law firm Eversheds Sutherland Bitāns are acting as AS DelfinGroup IPO advisors.
The IPO prospectus is available on https://www.delfingroup.lv/storage/files/as-delfingroup-ipo-prospectus-consolidated.pdf.
About AS DelfinGroup
AS DelfinGroup is a licenced technology-based financial service company that was established in 2009 and operates under the brand names Banknote and VIZIA. The company continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), as well as sale of pre-owned goods both online and at more than 90 branches across Latvia. On average, 35,000 thousand loans are issued every month and serviced by the professional team of more than 250 AS DelfinGroup employees. The company has a total of over 400,000 registered customers. Since 2014, AS DelfinGroup has been known on the Nasdaq Riga as a bond issuer. The company regularly pays dividends to its shareholders. In 2020, the company's net loan portfolio grew to EUR 34.6 million, while its EBITDA reached EUR 9.3 million, with profits before income tax for dividends of EUR 4.65 million. The company’s sustainability is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion and facilitating the circular economy. The company has been profitable every year since 2010.